Shenzhen Agricultural Prdts Grp Co Ltd Stock Forecast
Stronger technical forecast for Shenzhen Agricultural Prdts Grp Co Ltd stock price after Friday trading.
(Updated on Apr 26, 2024)
The Shenzhen Agricultural Prdts Grp Co Ltd stock price gained 0.84% on the last trading day (Friday, 26th Apr 2024), rising from ¥5.98 to ¥6.03. During the last trading day the stock fluctuated 4.51% from a day low at ¥5.77 to a day high of ¥6.03. The price has been going up and down for this period, and there has been a 5.24% gain for the last 2 weeks. Volume fell on the last day by -652 thousand shares and in total, 8 million shares were bought and sold for approximately ¥49.67 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Shenzhen Agricultural Prdts Grp Co Ltd stock with a 90% probability to be traded between ¥5.05 and ¥6.26 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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000061.SZ Signals & Forecast
The Shenzhen Agricultural Prdts Grp Co Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ¥5.93 and ¥6.02. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 9.04%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Shenzhen Agricultural Prdts Grp Co Ltd stock
Shenzhen Agricultural Prdts Grp Co Ltd finds support from accumulated volume at ¥5.98 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ¥0.260 (4.51%) between high and low. For the last week, the stock has had daily average volatility of 4.30%.
Our recommended stop-loss: ¥5.82 (-3.50%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (000061.SZ) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Shenzhen Agricultural Prdts Grp Co Ltd to open at ¥5.94, and during the day (based on 14 day Average True Range), to move between ¥5.80 and ¥6.26, which gives a possible trading interval of +/-¥0.226 (+/-3.75%) up or down from last closing price. If Shenzhen Agricultural Prdts Grp Co Ltd takes out the full calculated possible swing range there will be an estimated 7.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥5.98 (0.83%) than the resistance at ¥6.10 (1.16%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Shenzhen Agricultural Prdts Grp Co Ltd stock A Buy?
Shenzhen Agricultural Prdts Grp Co Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.753 Hold/Accumulate Upgraded
Predicted Opening Price for Shenzhen Agricultural Prdts Grp Co Ltd of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| ¥5.94 ( 1.44%) | ¥6.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000061.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.20 | 2.87 % | |
| R2 | 6.10 | 1.23 % | ||
| R1 | 6.04 | 0.210 % | ||
| Current price: | 6.03 | |||
| Support | S1 | 5.84 | -3.08 % | |
| S2 | 5.78 | -4.10 % | ||
| S3 | 5.68 | -5.75 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.20 | 2.82 % | |
| R2 | 6.19 | 2.65 % | ||
| R1 | 6.10 | 1.16 % | ||
| Current price | 6.03 | |||
| Support | S1 | 5.98 | -0.83% | |
| S2 | 5.88 | -2.49% | ||
| S3 | 5.73 | -4.98% |
000061 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 26, 2023 | Jun 26, 2023 | Jun 26, 2023 | ¥0.0400 | 0.681% |
| 2 | Jun 22, 2022 | Jun 22, 2022 | Jun 22, 2022 | ¥0.0700 | 1.15% |
| 3 | Jun 24, 2021 | Jun 24, 2021 | Jun 24, 2021 | ¥0.0600 | 1.07% |
| 4 | Jun 18, 2020 | Jun 18, 2020 | Jun 18, 2020 | ¥0.0600 | 0.768% |
| 5 | Jun 18, 2019 | Jun 18, 2019 | Jun 18, 2019 | ¥0.0100 | 0.185% |
FAQ
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